Iovance Biotherapeutics (NASDAQ:IOVA) Given New $19.00 Price Target at The Goldman Sachs Group

Iovance Biotherapeutics (NASDAQ:IOVA) had its price target cut by The Goldman Sachs Group from $22.00 to $19.00 in a report published on Monday,Benzinga reports. They currently have a buy rating on the biotechnology company’s stock.

Several other brokerages also recently weighed in on IOVA. Chardan Capital reduced their price objective on shares of Iovance Biotherapeutics from $34.00 to $30.00 and set a “buy” rating for the company in a research report on Monday. Piper Sandler reduced their price target on shares of Iovance Biotherapeutics from $7.50 to $6.00 and set a “neutral” rating for the company in a research report on Friday, February 28th. HC Wainwright reiterated a “buy” rating and issued a $32.00 price target on shares of Iovance Biotherapeutics in a research report on Friday, February 28th. Finally, Robert W. Baird reduced their price target on shares of Iovance Biotherapeutics from $24.00 to $20.00 and set an “outperform” rating for the company in a research report on Friday, February 28th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $20.25.

Iovance Biotherapeutics Trading Up 3.3 %

Shares of NASDAQ:IOVA opened at $4.05 on Monday. The company has a market capitalization of $1.23 billion, a PE ratio of -2.72 and a beta of 0.53. Iovance Biotherapeutics has a twelve month low of $3.62 and a twelve month high of $17.64. The firm has a 50 day simple moving average of $6.07 and a 200-day simple moving average of $8.46.

Iovance Biotherapeutics (NASDAQ:IOVA) last issued its quarterly earnings data on Thursday, February 27th. The biotechnology company reported ($0.26) earnings per share for the quarter, hitting the consensus estimate of ($0.26). The business had revenue of $73.69 million during the quarter, compared to the consensus estimate of $72.17 million. Iovance Biotherapeutics had a negative net margin of 451.25% and a negative return on equity of 58.43%. As a group, equities research analysts predict that Iovance Biotherapeutics will post -1.24 EPS for the current fiscal year.

Hedge Funds Weigh In On Iovance Biotherapeutics

A number of large investors have recently bought and sold shares of the company. Vanguard Group Inc. raised its position in Iovance Biotherapeutics by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 27,534,340 shares of the biotechnology company’s stock worth $203,754,000 after buying an additional 220,373 shares during the last quarter. State Street Corp grew its stake in shares of Iovance Biotherapeutics by 4.6% during the 3rd quarter. State Street Corp now owns 13,201,978 shares of the biotechnology company’s stock worth $123,967,000 after purchasing an additional 576,801 shares during the period. Hood River Capital Management LLC grew its stake in shares of Iovance Biotherapeutics by 10.4% during the 4th quarter. Hood River Capital Management LLC now owns 8,991,573 shares of the biotechnology company’s stock worth $66,538,000 after purchasing an additional 846,936 shares during the period. Geode Capital Management LLC grew its stake in shares of Iovance Biotherapeutics by 3.9% during the 4th quarter. Geode Capital Management LLC now owns 5,871,420 shares of the biotechnology company’s stock worth $43,458,000 after purchasing an additional 222,425 shares during the period. Finally, Long Focus Capital Management LLC grew its stake in shares of Iovance Biotherapeutics by 13.2% during the 4th quarter. Long Focus Capital Management LLC now owns 5,132,000 shares of the biotechnology company’s stock worth $37,977,000 after purchasing an additional 600,000 shares during the period. Hedge funds and other institutional investors own 77.03% of the company’s stock.

About Iovance Biotherapeutics

Iovance Biotherapeutics, Inc, a commercial-stage biotechnology company, develops and commercializes cell therapies using autologous tumor infiltrating lymphocyte for the treatment of metastatic melanoma and other solid tumor cancers in the United States. The company offers Amtagvi, a tumor-derived autologous T cell immunotherapy used to treat adult patients with unresectable or metastatic melanoma; and Proleukin, an interleukin-2 product for the treatment of patients with metastatic renal cell carcinoma.